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While Pell Grants were originally intended to be a resource for the lowest-income students, more students from middle-income families are becoming eligible to receive aid through the federal program, according to a new report from the American Enterprise Institute (AEI). In order to prevent this “mission creep,” the report offers several ways to limit the program to low-income students, from instituting an income cutoff to restricting eligibility to students with a zero Expected Family Contribution (EFC).
Thirty-two groups representing public health, science, and higher education—including NASFAA—sent a letter to Congress Monday urging lawmakers to support funding for student aid programs for graduate and professional students as it works toward reauthorizing the Higher Education Act (HEA). The groups wrote that “decisions made by Congress in the past relative to student loans have made graduate and professional education more expensive for students,” such as charging them higher interest rates on loans, and eliminating the in-school interest subsidy for graduate students. “This trend is unacceptable and economically self-defeating for our nation as we look to globally compete with the most innovative and skilled workforce,” they wrote. The groups also urged Congress to continue funding the Grad PLUS Loan program. Read the full letter.
Today is the last day to complete the NASFAA survey designed to help shape NASFAA's strategic planning. If you haven't already, please complete the survey by 5:00 p.m. ET. Survey links were sent to each individual listed on the Financial Aid Office Roster over the past week. If you cannot find your survey link or have any questions please contact NASFAA's Research Department.